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Originally Posted by Winsor_Pilates
So it sounds like a matter of WHEN Bitcoin busts, not iF.
The technology and other competitors may change the world but Bitcoin is the MySpace in this story.
I agree that investing in it can still be very lucrative and it still has upside value before that bust. But if everything is indicating an inevitable bust, how will you time your exit?
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Like everything else, to me it's a matter of trying to understand what's going on in the broader context and how what has value now fits into the way things are changing. For now, I think btc is still on the way up and may still be early its evolution. The growth of state-backed digital currency alternatives doesn't worry me, because I see btc as having value in being an alternative to those while the development of state-backed digital currencies is going to encourage broader adoption of digital currency generally.
I don't know what new thing is going to eat btc though. If I did, I'd be working on getting some money into that while continuing to use btc to meet my needs now. That thing may not emerge or become obvious for a long time yet and I'm pretty confident in btc for the foreseeable future. The best I can do in the meantime is continue learning, refining my expectations about where things are going and adapting.